Tuesday, May 13, 2014

ConocoPhillips, A Long Journey Of Royalty And Downfall!



ConocoPhillips is a multinational energy corporation in America. Its headquarters are located in Houston, Texas. It is known to be the world’s best production and exploration company and is known for its good links with other companies. The company was founded in 1875 as Continental Oil and Transportation Company. It was earlier an oil, coal and grease company but latter acquired assets and established wide range of petrochemicals as well. On June 26, 1929, Marland Oil the founder of company renamed it as Continental Oil Company.
From the very start, the stock shares of the company were 2,317,266 that were enough for any company to be get noticed. Presently, according to ConocoPhillips stocks the net income of company is $117.144 billion, this is the estimated value for the records of year 2012. For the revenue the estimated value according to ConocoPhillips stock news of year 2012 is $62.004 billion. In time period from 2009 to 2011 $10 billion assets of the company got sold that cast a deep mark on the stock rate of the company. For next two years. In January 2013, ConocoPhillips Company announced that the company is going to sell its Rocky Mountain assets for 1.5 billion U.S. dollar to Danbury Resources.
Apart of its publicity, the company has been raked at 13th number among U.S. corporate producers of air pollution. The company has been named a defendant and COP stock highlights that it was among the companies that colluded with the Georgian government to approve a $3 billion pipeline so that they can avoid any lawful restriction.

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